What you need to open a Truist savings account
Truist requires a government-issued photo ID, your Social Security number, and an initial deposit to open a savings account. You can open an account online, by phone, or in person at a Truist branch. The process takes about 10 to 15 minutes if you do it online, and you can start using the account the same day.
The initial deposit amount depends on the account type. Truist's basic savings account typically requires a minimum opening deposit, though this varies by region and current promotions. Check with your local branch or the Truist website to confirm the exact amount for your area.
You will also need a valid mailing address and a phone number. If you are opening the account online, you will need to verify your identity through Truist's digital process, which usually involves answering security questions based on your credit history.
Key Takeaways
- You need a government photo ID, Social Security number, initial deposit, and current address to open a Truist savings account.
- Online account opening takes 10 to 15 minutes and lets you use the account the same day.
- Minimum opening deposit amounts vary by location and account type, so contact your local branch to confirm the requirement.
- Truist offers online, phone, and in-person account opening, and you can link the savings account to an existing Truist checking account if you have one.
Opening an account online
Go to the Truist website and select "Open an Account" or "Savings Accounts." You will choose the type of savings account you want—Truist offers several options, including basic savings and money market accounts. Read the account details to understand the interest rate, monthly fees, and any balance requirements.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Truist will ask you security questions to verify your identity. Answer these based on your credit history and past financial accounts. If you cannot answer enough questions correctly, you may need to open the account in person or by phone instead.
Choose how you want to fund the account. You can transfer money from another bank account, use a debit card, or arrange a wire transfer. Enter the amount for your initial deposit and confirm the funding method. Review the account terms and disclosures, then sign electronically.
Once approved, Truist will send you a confirmation email with your account number and login credentials. You can log into your account online or through the Truist mobile app right away, though debit cards and checks may take 5 to 10 business days to arrive by mail.
Opening an account by phone or in person
Call Truist customer service at 1-800-872-8748 to open a savings account over the phone. A representative will walk you through the same information you would enter online: personal details, identity verification, and funding method. Phone opening takes about 15 to 20 minutes. You will receive account details by email or mail.
To open an account in person, visit a Truist branch near you. Bring your government photo ID, Social Security number, and initial deposit (cash or check). A banker will complete the paperwork, verify your identity, and set up the account on the spot. You can receive a debit card immediately at some locations, or it will be mailed to you within 5 to 10 business days.
In-person opening is useful if you want to ask questions about account features, interest rates, or fees before committing. It also bypasses the identity verification questions that sometimes block online applications.
Linking your savings account to checking or other accounts
If you already have a Truist checking account, you can link your new savings account to it during the opening process or afterward through online banking. Linking lets you transfer money between accounts instantly and set up automatic transfers for savings goals.
Log into your Truist online account or mobile app, go to "Accounts," and select "Link Account" or "Manage Accounts." Follow the prompts to connect your savings account. Truist will verify the link by depositing small amounts (usually under $1) into the linked account, which you then confirm in your banking portal.
You can also link external bank accounts from other institutions. This takes one to two business days for verification and lets you move money between Truist and your other banks without visiting a branch.
Understanding Truist savings account features and fees
Truist savings accounts earn interest, but the rate varies based on account type and current market conditions. Money market accounts typically offer higher rates than basic savings accounts, but they may have higher minimum balance requirements. Check the current rates on the Truist website or ask a banker for the exact rate on the account you are opening.
Monthly maintenance fees vary by account type. Some Truist savings accounts waive the monthly fee if you maintain a minimum balance (often $300 to $500) or set up automatic monthly deposits. Others charge a fee regardless. Read the account disclosure document before opening to understand what you will owe.
Truist limits the number of withdrawals or transfers you can make from a savings account per month—this is a federal rule, not unique to Truist. Exceeding the limit may result in fees or account restrictions. Ask about this limit when you open the account.
What happens after you open your account
Your account is active immediately after approval, and you can log in online or through the Truist mobile app to check your balance and make transfers. Your debit card will arrive by mail in 5 to 10 business days. If you need a card sooner, some Truist branches can issue a temporary card or expedite delivery.
Set up online banking and mobile app access right away. Enable two-factor authentication (usually a code sent to your phone) to protect your account. Add your savings account to your budget or money management tools so you can track your balance and interest earnings.
If you opened the account online and have questions later, you can call Truist customer service, visit a branch, or use the chat feature in the mobile app. Truist branches are open Monday through Friday, with limited Saturday hours at some locations.
Frequently Asked Questions
Can I open a Truist savings account if I do not have a checking account?
Yes. You do not need an existing Truist account to open a savings account. You will provide the same identification and initial deposit whether or not you have other accounts with Truist. However, if you plan to transfer money regularly, having a checking account makes it easier.
What is the minimum opening deposit for a Truist savings account?
The minimum opening deposit varies by account type and location. Contact your local Truist branch or check the website for current requirements. Some accounts may have no minimum opening deposit during promotional periods, while others require $25 to $500.
How long does it take to receive my debit card?
Standard debit card delivery takes 5 to 10 business days by mail. Some Truist branches can issue a temporary card or expedite delivery for a fee. You can use your account for online transfers and bill payments before your physical card arrives.
Can I open a savings account for someone else or as a joint account?
You can open a joint savings account if both account holders are present (in person or online with proper verification). Each person must provide their own ID and Social Security number. For accounts for minors, a parent or guardian must open the account and be listed as the primary account holder.
What if I cannot verify my identity online?
If the online identity verification questions fail, you can open the account by phone or in person instead. Bring your government photo ID to a Truist branch, and a banker can verify your identity directly and complete the account opening on the spot.